Cuban Convertible Peso


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Cuban Convertible Peso

One of two currencies in Cuba. It is pegged to the U.S. dollar at a one-to-one ratio, meaning that one could present one convertible peso to the Central Bank of Cuba and redeem it for one dollar. Because the other currency in Cuba, the Cuban peso, is an inconvertible currency, the convertible peso is Cuba's only point of access to international foreign exchange markets.
References in periodicals archive ?
Local conmen on the street will try to give you worthless pesos instead of the correct currency - Cuban Convertible Peso (CUC).
However, the Castro government has since decided that the official tourist currency - that is to say, the cash you'll use in shops, bars and restaurants and to pay for taxis - is the Cuban Convertible Peso, CUC.
I exchanged my Euros to Cuban Convertible Pesos at the airport at a total loss of about 15 percent over the value of my dollars in the US.
We are told five Cuban convertible pesos (about U$5.